Help with buying old domain for creating private blog network

I am considering buying an old domain which is about to expire and use it for setting up a private blog network. What are good sites, and most importantly what are the things i need to look out for. Also if I buy an old domain is it oke to set it up as a new site? So fresh wordpress installation etc?

Note that adblockers might block our captcha, and other functionality on BHW so if you don't see the captcha or see reduced functionality please disable adblockers to ensure full functionality, note we only allow relevant management verified ads on BHW.